The company’s stock price closed down more than 4% Monday after early reports that Boeing might halt the plane’s production began to circulate, and then fell another 0.67% after hours following Boeing’s official announcement.
“We believe this decision is least disruptive to maintaining long-term production system and supply chain health,” Boeing said in a release Monday. “This decision is driven by a number of factors, including the extension of certification into 2020, the uncertainty about the timing and conditions of return to service and global training approvals, and the importance of ensuring that we can prioritize the delivery of stored aircraft.”
This is a developing story. Check back for more…